EASY SAID

Sold a couple of more positions in the oil patch. I simply could not take the beating anymore (how depressing). One of them (PFC) was down by more than 30% in a single day. I look at my portfolio and see a lot of positions whose loss is creeping up. What happened here? Didn’t I have a strategy to limit the loss to 7-8% in place? How and why, did I fail to execute such strategy? How could I let these positions pestered in the portfolio? I have no answers.

GLW

On the other hand, I picked up some GLW ($11). The company upped its Q1/05 guidance. It is traded at approximately 16XE05 and 13XE06, which I believe is a reasonable valuation. While the FDP prices remains relatively weak, volume could ramp up this year, which will be very bullish for GLW, the dominate player in the large size FDP market. A combination of stable price and high volume would be a “goldielock� scenario for GLW, and extremely bullish for a long run. Initial target for the end of year is $15 and stop loss at 10.75.